Determine the discrepancy The manager of Kancha Supermarket needs to verify today'sregister accuracy. The store started with $500 float, processedcustomer payments of $5,840, issued refunds worth $320, andpaid an urgent supplier bill of $280 from the register. Duringclosing, the register shows $5,440. Determine the discrepancyfrom expected balance.

Explanation of Starting FloatThe starting float is the initial amount of money that is placed in the…

Answered: The manager of Kancha Supermarket needs…

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter9: Sales And Purchases

Section: Chapter Questions

Problem 10E: Kelley Company has completed the following October sales and purchases journals: a. Total and post...

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Determine the adjusted balances of the following: 1. Accounts Receivable 2. Inventories 3. Sales 4. Cost of Sales 5. Effect of errors to net income
Required information [The following information applies to the questions displayed below.] Required: 1. Create a calculated field to calculate the Days Past Due for each invoice. 2. Summarize the accounts receivable by customer. 3. Get the detailed receivables for the customer "Taste of Thai". Ask the Question: How can we use Tableau on the total detailed late accounts receivables balance to get specific detail on invoices due by customer? Master the Data: To begin, we have a list of 200 receivables that are all past their due date as of today's date of 12/31/2021. This is shown in the Excel file Lab 2-2 Data.xlsx, which will be imported into Tableau. Software needed ⚫ Tableau • Screen capture tool (Windows: Snipping Tool; Mac: Cmd+Shift+4) Data: Excel File Lab 2-2 Alt Data.xlsx. Perform the Analysis: Refer to Lab 2-2 Alternative in the text for instructions and Lab 2-2 steps for each of the lab parts. Share the Story: Required: 1. What is the grand total amount owed in past due…
See the image below. Please provide some solutions so that I can verify that I solved the problem correctly. Question: The accounts receivable from Silang is
Kelley Company has completed the following October sales and purchases journals: a. Total and post the journals to T accounts for the general ledger and the accounts receivable and accounts payable ledgers. b. Complete a schedule of accounts receivable for October 31, 20--. c. Complete a schedule of accounts payable for October 31, 20--. d. Compare the balances of the schedules with their respective general ledger accounts. If they are not the same, find and correct the error(s).
On June 30, Isner Inc.s bookkeeper is preparing to close the books for the month. The accounts receivable control total shows a balance of $550, but the accounts receivable subsidiary ledger shows total account balances of $850. The accounts receivable subsidiary ledger is shown here. Can you help find the mistake?
Using data in Exercise 9-9, assume that the allowance for doubtful accounts for Waddell Industries has a credit balance of 6,350 before adjustment on August 31. Journalize the adjusting entry for uncollectible accounts as of August 31. Waddell Industries has a past history of uncollectible accounts, as follows. Estimate the allowance for doubtful accounts, based on the aging of receivables schedule you completed in Exercise 9-8. The accounts receivable clerk for Waddell Industries prepared the following partially completed aging of receivables schedule as of the end of business on August 31: The following accounts were unintentionally omitted from the aging schedule and not included in the preceding subtotals: a. Determine the number of days past due for each of the preceding accounts as of August 31. b. Complete the aging of receivables schedule by adding the omitted accounts to the bottom of the schedule and updating the totals.
The following information from Tiny Company’s first year of operations is to be used in testing the accuracy of Accounts Receivable. The December 31, 2015, balance is $28,300. (a) Collections from customers, $48,000 (b) Merchandise purchased, $74,000 (c) Ending merchandise inventory, $31,500 (d) Goods sell at 60% above cost (e) All sales on account Compute the balance that Accounts Receivable should show and determine the amount of any shortage or overage.
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The cash register tape for Tamarisk Industries reported sales of $8,103.30.Record the journal entry that would be necessary for each of the following situations. (a) Sales per cash register tape exceeds cash on hand by $59.85. (b) Cash on hand exceeds cash reported by cash register tape by $33.39. (Round answers to 2 decimal places, e.g. 52.75. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Transactions Account Titles and Explanation Debit Credit (a) enter an account title enter a debit amount rounded to 2 decimal places enter a credit amount rounded to 2 decimal places enter an account title enter a debit amount rounded to 2 decimal places enter a credit amount rounded to 2 decimal places enter an account title enter a debit amount rounded to 2 decimal places enter a credit amount rounded to 2 decimal places (b) enter an account title enter a debit amount rounded to 2 decimal…
The cash register tape for Larkspur Industries reported sales of $7,146.30. Record the journal entry that would be necessary for each of the following situations. (a) Sales per cash register tape exceeds cash on hand by $52.78. (b) Cash on hand exceeds cash reported by cash register tape by $29.45. (Round answers to 2 decimal places, e.g. 52.75. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Transactions Account Titles and Explanation Debit Credit (a) Cash 7093.52 Cash Over and Short 52.78 Sales Revenue 7146.30 (b) Cash 7093.52 Sales Revenue 7146.30 Cash Over and Short 29.45
The cash register tape for Oriole Industries reported sales of $27,662.00. Record the journal entry that would be necessary for each of the following situations. (a) Cash to be accounted for exceeds cash on hand by $45.00. (b) Cash on hand exceeds cash to be accounted for by $20.50. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 2 decimal places, eg. 52.75.) No. Account Titles and Explanation Debit Credit (a) (b)

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